Justice Dept Tracking Your Cash: Welcome To Operation Choke Point!!!

Breitbart News has learned that in 2013 the Obama administration launched an under-the-radar project, ‘Operation Choke Point,’ which is designed to destroy three sectors of the private lending industry: third party payment processors (“TPPPs”), payday lenders, and online lenders.

The operation is headed by political operatives and career bureaucrats at the Department of Justice, the FDIC, and the new Consumer Financial Protection Bureau (“CFPB”). It appears to be the latest example of the Obama administration’s successful efforts to weaponize the apparatus of the federal government against people and industries it opposes ideologically.

According to the Wall Street Journal, the federal initiative now known as ‘Operation Choke Point’ is an outgrowth of the President’s Financial Fraud Task Force, established by President Obama by Executive Order in 2009. It also appears to have been kicked off in secret by the Department of Justice, FDIC, and the CFPB in early 2013 without the requisite statutory authority. Officials at the Department of Justice have withheld information about the program from Congress, though they have eagerly shared details with federal financial institution examiners authorized to supervise and discipline the nation’s banks and related financial institutions.

On August 22, thirty-one members of Congress sent a letter to Attorney General Eric Holder and FDIC Chairman Martin Gruenberg , requesting a briefing of Congressional staff members on the project, the details of which were so obscure they did not yet know it had obtained the status of a federal initiative and was called ‘Operation Choke Point.’

So while the Justice Department is trying to shut down private financial services for the working poor, a democratic senator wants the postal service to begin offering the same services…

Nationalization of Financial Services for the working poor…it’s a high profit industry, but you could bet the government would fuck that up in short order…

Elizabeth Warren Wants The Postal Service To Offer Small Loans

SNIP 50%

In November, the U.S. Postal Service reported it had a $5 billion loss for Fiscal Year 2013, its seventh consecutive year with loss. At the time, Postmaster General Patrick Donahoe blamed Congress for the loss, citing an “inflexible business model.”

“We’ve achieved some excellent results for the year in terms of innovations, revenue gains, and cost reductions, but without major legislative changes we cannot overcome the limitations of our inflexible business model,” Donahoe said. “Congress is moving forward with legislation that has the potential to give us greater flexibility and put us back on a firm financial footing, and we strongly encourage that they continue moving forward.”

Sen. Elizabeth Warren (D-MA), however, supports an idea that would expand the role of the U.S. Postal Service from just mail delivery to financial services as well. In an op-ed for the Huffington Post published Saturday, Warren cited an Office of the Inspector General report pointing out that 68 million Americans have no checking or savings account and rely on non-bank financial services like payday loans and check cashing to the tune of $89 billion in 2012…

So basically the Government is trying to neutralize the private sector competition by abusing the power of the Justice Department to harass these private lenders out of business.

In other words the Mafia wants to kill off their loan sharking competition…

The Government is also using the program to intimidate banks who have customers that deposit cash, and using blanket subpoena’s without any probable cause to search the financial transactions of customers that deposit or withdraw “large” amounts of cash…

So if you have $10,000 in your account and you decide to withdraw say $3,000…is that a large amount of cash?!?!?

So even if you don’t approach the $10,000 statutory limit for Suspicious Transaction Report that the bank has to submit, you could still be caught up in a blanket subpoena if you withdraw just a $1000 to go on vacation.

Giving the regulators the chance to go through your entire financial history…

This is FUBAR…

We have NO 4th Amendment Anymore…

Imagine the Fed’s determine that you are “politically opposed” to them, first they collect your phone data, see who you call and when you call, then they collect your e-mail and internet activity records, then they collect your financial records.

You think anyone will be “Opposition” after that?!?!? You think they won’t use that to blackmail the “Opposition” if they want too?!?!?

This sh*t is getting out of hand, this has become a total police state if you can’t even use cash without them digging into you…

Saddletramp

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